crude oil prices remain volatile.
During the last few months, the cost of a barrel of crude oil – among other raw materials – it has risen and fallen once more and once more, exceeding triple figures since the war between Russia and Ukraine began last February 24.
Being Sunday, the markets remain closed, however, and according to the last settlement on Friday, May 20, the price of black gold registered a rise of almost one percent.
volatility in prices It is due to the war between Russia and Ukraine, as well as other economic issues: The Chinese lockdown for the most recent outbreak of coronavirusthe possible veto of the European Union once morest Russian fuel and the tall ones inflation rates.
Prices of a barrel of Brent and Texas oil today, May 22: How much does it cost and how much is it quoted?
According to the most recent close of May 20, Oil Price Chartsa renowned website with more than 150 oil indices and mixtures worldwide, for this Sunday, May 22, the price of Brent is at $112.55 dollars a barrel, while the US West Texas Intermediate (WTI) crude oil is at $113.23 dollars a barrel.
Prices are expected to remain volatile during the coming months as the world recovers economically.
Meanwhile, JPMorgan experts predict that, as of 2023, global producers will have to increase their investment to cover supplies the size of Russia, one of the three largest oil producers and exporters in the world, and replenish strategic reserves of the International Energy Agency.
